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July 1, 2013

Wedbush Recruits Ex-Raymond James Rep; LPL Affiliate Adds 5 Advisors

RIA Stratos Wealth attracts advisors with $470 million in assets from Wells Fargo and other firms

Wedbush Securities said Monday that it recruited a financial advisor who was formerly with Raymond James (RJF) and Morgan Keegan.

Michael Menefee will serve clients in the greater Dallas-Fort Worth area as a vice president of investments with Wedbush, which has about 400 advisors and 100 offices nationwide.

“Michael’s proven track record and dedication to superior client service are two qualities we look for in all of our advisors,” said Wesley Long, executive vice president and head of private-client services for Wedbush. “We are pleased to welcome him to the firm as we continue to grow our team of Wedbush financial advisors.”

Menefee has been in the financial-services industry for more than 12 years.

Before this work, he served in the U.S. Marine Corps and retired as a lieutenant colonel. In addition, he was decorated for his intelligence efforts, which included a tour with the Defense Intelligence Agency and work as a senior warning intelligence officer on the Joints Chiefs of Staff at the Pentagon.

Wedbush does not share the level of its advisors’ fees & commission or assets.

Stratos Wealth

In other recruiting news, independent RIA Stratos Wealth Partners, affiliated with LPL Financial (LPLA), said Tuesday it recruited five advisors from Wells Fargo Advisors (WFC), Edward Jones and other firms with a total of $470 million in assets in three major markets.

The RIA also says it opened offices in New Orleans and Conway, Ark., while expanding in San Diego.